Boyd Gaming Poised to Move
Boyd Gaming Corp. (BYD) owns and operates gaming properties in the U.S. with a total of a million square feet of casino space. Like others in the sector, the stock has been declining for most of the year and has not participated in the recent broader market strength.Boyd Gaming (BYD) -- Weekly Source: StockCharts.com View Chart » View in New Window »
The weekly chart shows a decline that has held above the May lows. It resembles a scaled-down version of the 2011 decline, which also began in February and continued into the October low. Price has compressed above support and the declining trendline in a very narrow average range. The Bollinger Band width indicator at the bottom of the chart shows how, in the past, this level of contraction has preceded volatile moves in the stock price. Currently, the Relative Strength Indicator and moving average convergence/divergence are below their trigger averages and centerlines. Chaikin Money Flow reflects distribution, on weak volume, and the 50-day moving average has crossed below the 200-day average....197 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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